Registered User
Joined: 2/2/2005
Posts: 82
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HI.
Everything is clear, except for the 'Histogram' setting,
it does not say if they all are set the same at simple, or exponential ?
For the bottom I opened the 'Indictor' window to enter the formula,but
on the 3 day SMA, at the end of the line, 4 period: MovAvg 3
where does that get entered ?
Thanks
H.L.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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He doesn't say if he is using simple or exponential. I would choose the one that fits you.
When you create a Custom Indicator you can set the Smoothing Average and to smooth simple or exponential.
Check out this short video: Plotting Custom Indicators with Examples
- Craig
Here to Help!
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Administration
Joined: 9/30/2004
Posts: 9,187
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By definition, MACD is constructed using exponential moving averages. That's not to say Sir Patient Trader is using exp avgs, just for your information.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Herky_love,
To add the described indicators to the bottom section of the chart:
Select Chart Template | Add Indicator | Indicator | Bottom.
- Visible: Checked
- Center Zero Line: Unchecked
- Plot using price scale: Unchecked
- Smoothing Average: 4
- Average Type: Exponential
- Indicator Formula: XAVGC3 / AVGC7
Select Chart Template | Add Indicator | Moving Average | FormulaXAVGC3 / AVGC7 4 Period.
- Period: 3
- Average Type: Simple
- Shift Left: Unchecked
- Visible: Checked
You may wish to review the following:
Adding, removing and saving indicators to a chart template
Plotting Custom Indicators with Examples
I do not know if the MACDs are Simple or Exponential. You can send an email to Sir Patient Trader's attention at support@worden.com if you wish to get clarification from the author.
After Mr. Worden publishes an article, many times other customers have questions that can only be answered by the author of the article. We do not give out anyone’s email address or other personal information, rather, we will just forward their email on to the appropriate person. The individual may or may not choose to respond directly to you.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 2/2/2005
Posts: 82
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Hi Gentleman.
I studied the video of "Plotting Custom Indicators'
but it did not ell me anything about what I had a problem with, until Bruce mentioned, to have the Center line unchecked, and after studying his response, I realized that I had to add the 3 Day SMA, as an extra line.
I also blieve that the Author has the Histograms exponential, according how he describes the results
seen on the chart.
Than you very much for your help
Regards H.L.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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You're welcome!
- Craig
Here to Help!
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Registered User
Joined: 1/1/2005
Posts: 2,645
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H.L.,
You should be aware that:
"When ever I see a yellow tip on the green MACD..."
makes little sense. The two MACDs are on different scales. Whether there is a yellow tip depends on the Right-Edge and Zoom settings.
It is similar to considering whether Price is above MS.
Thanks,
Jim Murphy
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Registered User
Joined: 1/1/2005
Posts: 2,645
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Bruce,
The Bottom Window has mixed EMA and SMA? You just don't believe your eyes.
Thanks,
Jim Murphy
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Registered User
Joined: 2/2/2005
Posts: 82
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Hi Jim
Yes, I noticed that depending on the 'Zoom'
if 'tips' can bee seen, or not, on the histogram
H.L. (Linda)
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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bustermu,
I think I actually had it posted correctly when I posted originally and went through and "fixed" it when I read through it later. I've changed it back to the correct formula.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 11/3/2004
Posts: 39
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The tips work fine for me. If you plot all 3 as histos they overlay each other. Rather cool actually.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Just keep in mind they are not on the same scale. This means if you see a bar in one histogram above another bar from another histogram it does not mean the plotted higher bar has a higher value.
- Craig
Here to Help!
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Registered User
Joined: 7/23/2005
Posts: 39
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hi, Craig
what is the formula for XAVGC3/AVGC7 cross below its 3 day MA? thanks
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Registered User
Joined: 7/23/2005
Posts: 39
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hi, Craig
I would like to create a percent true indicator based on Sir patient trader system, green spike for buy and red spike for sell. Please help. Thanks
Song
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Registered User
Joined: 1/1/2005
Posts: 2,645
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QUOTE (drsong) hi, Craig
what is the formula for XAVGC3/AVGC7 cross below its 3 day MA? thanks
drsong,
Please notice that when Sir Patient Trader refers to XAVGC3/AVGC7, he really means an EMA4 of XAVGC3/AVGC7. The XAVGC3/AVGC7 is not even visible on his charts. The SMA3 is applied to the EMA4.
It can be demonstrated that there is little difference in using:
1) XAVGC3/AVGC7
or
2) XAVGC3-AVGC7
If 2) is used, then:
XAVG(XAVGC3-AVGC7,4)-AVG(XAVG(XAVGC3-AVGC7,4),3)
= (3*XAVG(XAVGC3,4)-XAVG(XAVGC3.3,4)-3*XAVG(AVGC7,4)+XAVG(AVGC7.3,4)-2*AVG(XAVGC3,3)+2*AVG(AVGC7,3))/2
The right-side is proper syntax, the left-side is not.
The PCF can be used to determine when the EMA4 crosses its SMA3.
Bruce,
I just used Theorem 2 again.
Thanks,
Jim Murphy
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Registered User
Joined: 7/23/2005
Posts: 39
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Hi, Jim
thank you very much.
Song
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Registered User
Joined: 7/23/2005
Posts: 39
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hi, all
After I plug all conditions Sir patient trader descripted into a percent true indicator, I quickly realized the system has very few buy signals and too many exit signals. Back to the priciple: high winning percentage, low profit from each trade.
Song
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